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1 Reason Nu Holdings Is Headed in the Right Direction

Like many tech and fintech stocks this year, the Berkshire Hathaway-backed Brazilian digital bank Nu Holdings (NYSE: NU) has seen its stock price struggle and is down more than 61% this year. Nu is a major disruptor in the Latin American banking space, first offering a credit card with no annual fees and then building out a suite of banking products from there. Nu has amassed close to 60 million customers but in the past has gotten questions regarding its high valuation and path to sustainable profitability.

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